Sudan has received a critical financial boost from Saudi Arabia and the United Arab Emirates, who on Sunday granted three billion dollars in support for the country that is transitioning from the 30-year-rule of deposed leader Omar al-Bashir.
Reports have it that the oil-rich Gulf states have pledged to inject $500 million into the Sudanese central bank and $2.5 billion to help provide food, medicine and petroleum products. Although, it has failed to specify if the money is a gift or a loan.
In recent years Sudan has been hit by an acute lack of dollars, a key factor behind the nationwide protests that led to the toppling of Bashir by the army this month.
Since Bashir’s ouster the Sudanese pound has steadily strengthened on the black market, and on Sunday it jumped to 45 per dollar, after trading at 72 at one stage last week. The official exchange rate is 47.5 pounds to the dollar.
The Sudanese currency had plunged even after the United States lifted its 20-year-old trade embargo on the country in October 2017.
Nigerian crossdresser, Okuneye Idris Olanrewaju, popularly known as Bobrisky, has become embroiled in a scandal following revelations about his brief…
Governor Chukwuma Soludo of Anambra State has introduced free education for all students in public primary and secondary schools across…
The Federal Government has unveiled plans to rejuvenate six national museums as part of efforts to safeguard Nigeria’s cultural heritage.…
The Economic and Financial Crimes Commission (EFCC) has filed fresh charges against former Kogi State Governor, Yahaya Bello, accusing him…
The value of foreign exchange turnover in Nigeria's Autonomous Foreign Exchange Market surged to N15.74tn ($9.90bn) in August 2024, according…
The Academic Staff Union of Universities (ASUU) has issued a 14-day ultimatum to the Nigerian government under President Bola Tinubu,…